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Wait for a resell from around 107.599.

Wait for a resell from around 107.599. | 11 June 2020

11 June 2020, USD/JPY

Wait for a resell from around 107.599.

Wave Analysis

Earlier today, the US dollar established a swing low around 106.890. This is a good support, and while the price remains above it, we expect the current move to the upper side to be a mere correction but should not go beyond the upper blue moving average, We expect the current move to the upper side to be a mere correction and should not go beyond the 23.6% fib level, a break above this fib level will push the price further to the upper side towards 38.2% fib level. If you are looking at this chart now, expect further correction to the upper side to pick a low risk sell position.

Trade Recommendations:

Wait for a resell from around 107.599.

Bob Stan
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